Indian Rupee Plunges to 62.12 Vs. the Greenback

February 28 10:42 2014

rup2New Delhi, Friday, February 28 – During the morning hour deal on the final day of February at the Interbank Foreign Exchange, the currency of India skidded by 14 paise to 62.12 in opposition to the American unit as a result of month-end demand for the greenback from importers, as well as oil firms.

More to the point, a lot of forex traders mentioned that fragility of euro in opposition to the dollar out of the country too kept stress on the local unit but an elevated opening in the domestic stock market restricted the plunge.

In the intervening time, to deal on top of 21,000 level at 21,110.81, the benchmark BSE 30 went up by 123.82 points, or 0.59 %.

Not to forget that in the earlier session two days ago, the Indian rupee had shed four paise to end at 61.98 in opposition to the US dollar. On Thursday, February 27, the forex and stock markets stayed shut due to the popular Indian festival Maha Shivratri.